SL Green Realty Corp. (NYSE: SLG) is a fully integrated REIT that describes itself as Manhattan’s largest office landlord, with a portfolio focused on commercial properties in New York City. The news flow around SL Green often centers on Manhattan office leasing, acquisitions and dispositions of major towers, and financing transactions tied to its properties and credit investments.
Recent updates cover company announcements about transactions such as the acquisition of Park Avenue Tower, joint venture arrangements at 100 Park Avenue, and consolidation of ownership at 800 Third Avenue. SL Green also reports on contracts to purchase development sites like 346 Madison Avenue and adjacent parcels, highlighting its ongoing activity in Midtown Manhattan and along Park Avenue.
Regular updates include leasing milestones across the Manhattan office portfolio, with details on new leases, expansions and renewals for tenants in sectors such as financial services, professional services and technology. The company also issues press releases on office leasing volume, same-store occupancy targets and notable tenant commitments at buildings including One Madison Avenue, 11 Madison Avenue, 245 Park Avenue, 280 Park Avenue, 1185 Avenue of the Americas and others.
Investors can also see capital markets and corporate news, including refinancings of large office assets, the launch and deployment of the SLG Opportunistic Debt Fund, and changes to dividend policies for common and preferred stock. Earnings release dates, conference call information and institutional investor conference details are regularly announced, giving context to SL Green’s financial performance and strategy. For anyone tracking SLG, this news feed provides a record of the company’s property-level activity, leasing trends and financing decisions in Manhattan commercial real estate.
SL Green Realty Corp. (NYSE:SLG) has declared a monthly dividend of $0.3033 per share, payable on July 15, 2021, to shareholders of record by June 30, 2021. Additionally, the company declared a quarterly dividend of $0.40625 per share for its Series I Preferred Stock, also payable on July 15, 2021. SL Green is Manhattan's largest office landlord, managing 84 buildings totaling 37.8 million square feet as of March 31, 2021, focusing on maximizing the value of commercial properties.
SL Green Realty Corp. (NYSE: SLG) has announced that One Vanderbilt Avenue is now 89% leased following the signing of three new leases. A major lease of 97,652 square feet for 15 years was signed with a new tenant, boosting occupancy significantly. TD Securities expanded its lease by 24,020 square feet to occupy 142,892 square feet total. InTandem Capital Partners and Sagewind Capital expanded by 2,163 square feet. The building is on track to exceed a 90% leasing projection by year-end.
SL Green Realty Corp. (NYSE:SLG), Manhattan's largest office landlord, has declared a monthly dividend of $0.3033 per share, payable on June 15, 2021, to shareholders of record as of May 31, 2021. The company, focused on acquiring and managing Manhattan commercial properties, held interests in 84 buildings totaling 37.8 million square feet as of March 31, 2021.
SL Green Realty Corp. (NYSE:SLG) has announced the sale of 635-641 Sixth Avenue in New York for $325 million, valued at over $1,200 per square foot. The transaction, closing in Q2 2021, will yield approximately $312.5 million in net cash proceeds. The property, with an 8-story layout and 267,000 square feet, is currently 94% leased, anchored by Infor through 2030. SL Green acquired this asset in 2012 for $173 million and undertook significant redevelopment efforts.
SL Green Realty Corp. announced that Kyndryl signed a 22,531-square-foot, 9-year lease at One Vanderbilt Avenue, marking the building's occupancy at 81%. This new lease comes as Kyndryl prepares for its separation from IBM, expected by the end of 2021. One Vanderbilt is designed to attract leading companies due to its amenities and sustainable practices, aiming for 90% occupancy by year-end. As of March 31, 2021, SL Green held interests in 84 buildings totaling 37.8 million square feet.
SL Green Realty Corp. (NYSE:SLG) announces the departure of Chief Investment Officer David Schonbraun, effective by the end of Q2 2021. After 19 years, Schonbraun plans to explore new opportunities amidst a changing commercial real estate landscape. He played a significant role in the company’s growth and investment strategy. The firm's 2021 investment strategy, including asset sales, joint ventures, and stock buybacks, will now be managed by Brett Herschenfeld, Robert Schiffer, and Harrison Sitomer. As of March 31, 2021, SL Green manages interests in 84 buildings totaling 37.8 million square feet.
SL Green Realty Corp. (NYSE: SLG) announced plans for Summit One Vanderbilt, a new immersive observatory and experience located atop the 1,401-foot One Vanderbilt tower in Manhattan. Opening on October 21, this 65,000-square-foot space features interactive elements, stunning views, and unique culinary offerings by Danny Meyer’s Union Square Events. The project is part of a $3.3 billion development and aims to redefine visitor experiences in New York City. With sustainable features and cutting-edge technology, it anticipates attracting both locals and tourists as the city rebounds from the pandemic.
SL Green Realty Corp. (NYSE: SLG) announced three new leases at One Vanderbilt Avenue, adding to the building's leasing momentum. MSD Partners, Mamoura Holdings, and Nearwater Management signed leases covering 35,567 sq. ft., 28,448 sq. ft., and 17,289 sq. ft. respectively. Now 79% leased, One Vanderbilt is a key player in Manhattan's office market with its prime location and amenities. The building has signed 11 new leases since the pandemic began, reflecting strong demand for modern office spaces in New York City.
SL Green Realty Corp. (NYSE:SLG), Manhattan's largest office landlord, declared a monthly dividend of $0.3033 per share, payable on May 17, 2021. Shareholders of record by April 30, 2021 will receive the dividend in cash. As of March 31, 2021, the company held interests in 84 buildings totaling 37.8 million square feet, focusing on maximizing value in Manhattan commercial properties.
SL Green Realty Corp. reported a net loss of $(7.5) million, or $(0.11) per share, for Q1 2021, compared to a net income of $114.8 million, or $1.51 per share, in Q1 2020. Funds from operations (FFO) decreased to $128.3 million, or $1.73 per share, down from $172.0 million, or $2.08 per share, year-over-year. The company signed 21 office leases for a total of 352,752 sq. ft. in Manhattan, with occupancy at 94.2%. Significant asset sales are underway, including a 20% interest in 605 West 42nd Street, valued at $858.1 million.